Opera Limited Sponsored ADR (NASDAQ:OPRA) Stock Has Average Target Price of $24.75 According to Brokerages

Opera Limited Sponsored ADR (NASDAQ:OPRA) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.75.

A number of research analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Opera in a research note on Friday, October 2nd. B. Riley Financial boosted their price target on Opera from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen cut Opera from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Opera Stock Performance

NASDAQ OPRA opened at $15.49 on Tuesday. Opera has a 52 week low of $11.71 and a 52 week high of $20.78. The stock’s 50 day moving average price is $17.54 and its two-hundred day moving average price is $17.07. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.14 and a beta of 1.38.

Institutional Trading of Opera

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC lifted its stake in Opera by 16.8% in the third quarter. Penn Capital Management Company LLC now owns 894,543 shares of the company’s stock valued at $15,778,000 after acquiring an additional 128,776 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Opera by 16.4% in the 2nd quarter. Squarepoint Ops LLC now owns 190,502 shares of the company’s stock valued at $3,778,000 after acquiring an additional 26,787 shares during the period. Kestra Advisory Services LLC grew its position in shares of Opera by 3.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 127,307 shares of the company’s stock valued at $2,243,000 after acquiring an additional 4,373 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Opera by 14.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 77,737 shares of the company’s stock worth $1,370,000 after purchasing an additional 9,671 shares during the last quarter. Finally, Point Nemo Capital LLC increased its stake in shares of Opera by 4.7% during the 3rd quarter. Point Nemo Capital LLC now owns 73,403 shares of the company’s stock worth $1,293,000 after purchasing an additional 3,310 shares during the last quarter. 10.21% of the stock is owned by institutional investors.

Opera Company Profile

Opera Limited is a software company best known for developing web browsers for desktop and mobile devices. Its products include Opera, Opera GX, which is designed for gamers, and Opera Mini, a mobile browser built to use less data and work effectively on slower connections.

The company also offers digital content and advertising services, including Opera News and advertising solutions for businesses seeking to reach users across its products. Its browser offerings serve users in markets around the world.

Opera traces its roots to a browser project started in Norway in 1995.